Carlyle Group Said to Be Near PurposeBuilt Brands Stake Sale

Carlyle Group Inc. is nearing a deal to sell a roughly 49% stake in PurposeBuilt Brands, an owner of specialty cleaning and disinfection products, according to people with knowledge of the matter.

Private equity firm Rock Mountain Capital LP, led by managing partner David Stonehill, an alumni of Carlyle, is acquiring Carlyle’s stake, said the people, who requested anonymity discussing talks that aren’t public. The transaction values the company at about $1.6 billion including debt, they added.

Rock Mountain and Carlyle spokespeople declined to comment.

PurposeBuilt’s brands -- used in residences and commercial locations such as hospitals, garages ...